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Limited tops 2Q target
Apparel retailer sees larger-than-expected profit, sales gain; is comfortable with 3Q, 4Q forecasts.
August 22, 2002: 8:24 AM EDT

NEW YORK (CNN/Money) - Limited Brands posted improved fiscal second-quarter results Thursday that topped Wall Street's most optimistic expectations, and said it is comfortable with current second half forecasts.

The apparel retailer earned net income of $83.2 million, or 16 cents a share, in the period ended Aug. 3, up from $34.5 million, or 7 cents a share, on continuing operations before special items a year earlier. Analysts surveyed by earnings tracker First Call had a consensus forecast of 12 cents a share and a range of 8 to 14 cents.

The company said it is comfortable with First Call's third-quarter consensus EPS forecast of 4 cents and its fourth-quarter forecast of 76 cents, with a mid-single digit percentage gain in sales at stores open at least a year, a closely watched retail measure known as same-store sales.

Second-quarter sales rose 8 percent to $2.11 billion from an adjusted $1.96 billion a year earlier, edging past First Call's forecast of $2.09 billion. Same-store sales rose 4 percent.

Shares of Limited (LTD: Research, Estimates) gained 63 cents to close Wednesday at $16.61.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.